How to Link Additional Accounts to Emigrant Direct

After having moved a year ago, we finally got around to closing our old checking account (we had long since drawn the balance down to zero) and updating some of the links to our online savings accounts. In case you’re wondering how to link additional accounts to your Emigrant Direct savings account, wonder no more… I have the answer for you right here.

First, login to your account. Then click on the “Funding” tab and click the “Add Funding Account” button. Once you’ve entered the particulars of your account, click continue. After that, you’ll be instructed to write your Emigrant Direct account number on the memo line of a voided check and mail it to:

Attn: Account Fulfillment
13 Croton Ave.
Ossining, NY 10562

After they receive your check, they’ll make two small deposits in your newly linked account (just like when you set up your initial funding source). Once you’ve confirmed the amounts, you’re good to go. Given that you have to submit a check, I’m guessing you won’t be able to get away with linking a savings account. That’s not really a problem for me, though, because I established links between ING Direct, HSBC Direct, and Emigrant Direct back in the day before they tightened up the linking procedures.

6 Responses to “How to Link Additional Accounts to Emigrant Direct”

  1. Nickel

    They’re very similar. However, as I noted above, they had some serious account access issues last summer

    I chronicled the situation here, and there were also many reader reports of trouble here.

    If an online bank has trouble actually staying online, them I tend to lose confidence in them.

  2. Anonymous

    I don’t know that much about HSBC; what makes it far superior to Emigrant? It looks like the rate is the same. There are no HSBC branches in my area, so the ATM feature is not appealing. Am I missing something else?

    A rate over 5.05% in an offline account is amazing. The best money market rates in my area are ~ 4%, with a significant balance requirement.

  3. Nickel

    Blaine: What offline account are you moving to? Nothing around here is competitive with online. And besides, I really have no need for a local branch since our checking account gives us that.

  4. Nickel

    CPA1298: The only reason that Blaine (like me) only earns pennies from Emigrant is that he keeps the bulk of his money at HSBC Direct.

    In fact, the only reason I was able to make it this long without linking our new checking account is that we really don’t use our Emigrant account right now — a lot of people lost confidence when they knocked themselves offline last year when they tried to upgrade their website. But we keep it open so we can rate chase if they decide to bump their rates.

  5. Anonymous

    Note that Emigrant requires the name on the voided check to exactly match the name on your Emigrant account. I go by my middle name, and my Emigrant account uses my first name, so I had to have my bank write a letter on their letterhead attesting that I was who I said I was.

    Not too painful, especially for how much I like Emigrant. You can link up to 4 checking accounts to your Emigrant account. Also, my wife and I have our paychecks direct deposited into Emigrant, and then shuffle money to our checking account once a month when our bills are due. We don’t earn pennies like the first commenter, but about $30 to $50 per month; better than nothing.

  6. Anonymous

    I log in to my emigrant account once every 2 or 3 months to record how many pennies of interest the few hundred dollars that I left in it has accumulated.

    Most of my savings are at HSBC, and will be moving to my offline savings account that I just opened once I sign up for online access and link the accounts.

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